• Unemployment surpasses 10%• Tax credit for 1st time homebuyers• Reuter’s/ University of Michigan Consumer
Sentiment Index• US$ Index• Trade Deficit
Key Points
• October unemployment 10.2%
• Builders and factory workers lead claims
• Creation of jobs
Unemployment
Changes to Homebuyers Tax CreditChanges:
expand income limits homes up to $800,000 existing homeowners for
primary residenceProblems:
End of tax credit: prices will reset
Variable rate mortgages
Other Indicators• Consumer Sentiment
– 70.6% in October to 66.0% in November• 73.5% in September
• Dollar Index– 75.229 to 74.738
• Trade Deficit– Widened to $36.5 billion in September from a revised
$30.7 billion in August